DBRS Discontinues the Ratings on Pearl Mortgage Backed Securities 3 B.V.

DBRS Ratings Limited (DBRS) has discontinued the following ratings on the notes issued by Pearl Mortgage Backed Securities 3 B.V. due to repayment in full on 18 March 2013:

• Series A previously rated AAA (sf), is now Disc.-Repaid
• Series S previously rated BBB (high) (sf), is now Disc.-Repaid

Note:
The principal methodology applicable is Master European Structured Finance Surveillance Methodology which can be found on www.dbrs.com under Methodologies.

The source of information used for this rating includes the final quarterly information report provided by ATC Management B.V. DBRS considers the information available to it for the purposes of providing this rating was of satisfactory quality.

Ratings assigned by DBRS Ratings Limited are subject to EU regulations only.

Initial Lead Analyst: Alastair Bigley
Initial Rating Date: 3 January 2012
Rating Committee Chair: Claire Mezzanotte

Lead Surveillance Analyst: Keith Gorman
Most Recent Rating Date: 19 March 2013
Rating Committee Chair: Claire Mezzanotte